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SUBSEQUENT EVENTS
 6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS

 

The Company has evaluated other subsequent events through the date the consolidated financial statements were available to be issued and has concluded that no such events or transactions took place that would require disclosure and in this Note 16 other than as disclosed below.

 

Results of the Company’s Annual Meeting and Amendment to the Company’s Articles of Incorporation

 

On July 27, 2023, the Company held an annual meeting of stockholders (the “Meeting”). As of the record date for the Meeting, 169,968,874 shares of common stock were issued and outstanding1. A total of 79,507,015 shares of common stock, constituting a quorum, were present and accounted for at the Meeting. At the Meeting, the Company’s stockholders approved the below proposals (with the Series A Preferred Stock voting alongside the common stock (15,000 shares with 500,000 votes per share voting on proposal 3 in the same proportions as the shares of common stock were voted)):

 

VOTES CAST COMMON STOCK:  Proposal #1   Proposal #2   Proposal #3   Proposal #4 
Common Stock  Director Election   Auditor Ratification   Common Stock Increase   Advisory Say on Pay 
Yes   24,503,546    71,483,564    56,331,569    22,719,406 
                     
Against (No)   —    3,375,370    22,539,739    5,343,885 
                     
Abstain   4,276,453    4,648,017    635,702    716,543 
                     
VOTES CAST SERIES A PREFERRED (CONVERTED BASIS):               
                
Common Stock   Proposal #1    Proposal #2    Proposal #3    Proposal #4 
Yes   N/A    N/A    5,172,875,000    N/A 
                     
Against (No)   N/A    N/A    —    N/A 
                     
Abstain   N/A    N/A    —    N/A 
                     
Total # of Common shares as of June 16, 2023   169,968,874                
Total # of Series A (converted basis into Common shares) as of June 16, 2023   5,351,250,000                
                     
Common shares voted through the meeting   79,507,015                
Preferred shares (converted basis) voted through the meeting on Proposal # 3 only   5,172,875,000                
TOTAL   5,252,382,015                

 

1. As no other matters were brought for a vote before the meeting, the votes on Proposal #5 of 14,846,275 shares in favor, 13,072,702 shares against, and 836,041 shares abstaining, have no impact.